# How Devon Energy (DVN) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/dvn
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on DVN alone. It places DVN (Devon Energy Corporation) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where DVN stands in the market, and of the alternatives worth a closer look.

Period covered: DVN's full trading record, from October 1986 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** The slide is DVN's own: it is 34.4% below its high, against 1.3% for the S&P 500. Even so, over the past 3 months, DVN rose 15.8% against 3.9% for the S&P 500 and 3.2% for the Nasdaq 100.
- **Stock or market?:** DVN's 15.8% gain over the past 3 months is part of a broader exploration & production rally: the exploration & production ETF XOP (State Street SPDR S&P Oil & Gas Exploration & Production ETF) rose 18.1%, with COP (ConocoPhillips, up 27.0%) and EOG (EOG Resources, up 12.7%). Its exploration & production peers did not move as one over the past 3 months: COP rose 27.0%, while FANG (Diamondback Energy) rose 4.2%.
- **Past 1 to 3 years:** DVN has run far ahead of the market, rising 61.8% over the past year against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. DVN lagged its exploration & production peers in 2023, then moved up the pack in 2025.
- **Long term:** DVN turned $10,000 into $17,000 over the past decade, against $42,100 in the S&P 500. Year by year, DVN has outpaced the S&P 500 31% of the time since 1997.
- **In a crash:** Across seven sell-offs, DVN has typically fallen 2.1 times as far as the S&P 500. That said, in the 2022 bear market, DVN held up better than EQT, PR and OVV; only OXY (Occidental Petroleum) and CRC fell less.
- **Diversification:** Against the S&P 500, DVN has a correlation of 0.22 over 5 years, less closely than 83% of stocks worth at least $300 million. Next to an index fund it is a real diversifier. DVN moves far less with the S&P 500 than it used to, with a correlation of 0.22 over the past 5 years against 0.71 in the 5 years before.
- **Better options**
  - **Popular alternatives:** VLO (Valero Energy), COP (ConocoPhillips) and MPLX earned more than DVN with less volatility over the past 5 years. VLO returned 44.2% a year at 36.9% volatility, against 9.3% a year at 39.9%.
  - **Nearby categories and themes:** MPC (Marathon Petroleum, oil & gas) and XOM (Exxonmobil, integrated oil & gas) earned more than DVN with less volatility over the past 5 years. MPC returned 51.2% a year at 33.4% volatility, against 9.3% a year at 39.9%.
  - **Whole market:** 819 of the 3,633 stocks and funds worth at least $500 million earned more than DVN with less volatility over the past 5 years, among them AAPL (Apple), GOOG (Alphabet) and MSFT (Microsoft).

## How much would $10,000 in DVN have grown?

This chart tracks a hypothetical $10,000 investment in DVN over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of DVN over the same span and DVN's popular alternatives, among those that traded for the entire period.

- $10,000 invested in DVN at the end of September 1997 would have grown to $35,882 by September 2026, less than the $132,907 it would have become in SPY, an S&P 500 fund.
- Six of the eight other investments on the chart ended ahead of DVN, and VLO finished highest, at $1,019,941.

## DVN at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout.

- DVN is still 34.4% below its all-time high.
- DVN's deepest decline since it began trading in 1986 was 94.9%, from May 2008 to March 2020. It has not yet climbed back to that peak.
- Over 29 full calendar years, DVN's best was 2021, when it returned 196%, and its worst was 2015, when it lost 46.6%. It lost money in 11 of those years.

- Type: Stock, Energy (Oil & Gas Exploration & Production)
- Trading since: October 20, 1986
- Market value: $55B
- Volatility (5 years): 39.9%; Sharpe ratio: 0.42
- Worst decline ever: −94.9%, from May 20, 2008 to March 18, 2020; not yet back at its high

| Period | DVN total return |
| --- | --- |
| 1 month | +5.9% |
| 3 months | +15.8% |
| 6 months | +13.6% |
| year to date | +35.6% |
| 1 year | +61.8% |
| 3 years | +15.0% |
| 5 years | +56.0% |
| 10 years | +69.6% |

## DVN against the whole market

Where DVN ranks among every stock and fund, and what across the market has done better.

### How does DVN rank among all stocks?

This section ranks DVN on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history.

- DVN's worst decline of the past 10 years ranks in the bottom 13% of the 2,187 stocks worth at least $300 million, where the top fell the least.
- DVN's 1-year return ranks in the top 12% of the 3,287 stocks worth at least $300 million with 1 year of history.

| Measure | DVN | Rank |
| --- | --- | --- |
| 1-year return | +61.8% | 400 of 3,287 (top 13%) |
| 3-year return | +15.0% | 2,090 of 3,017 (top 70%) |
| 5-year return | +56.0% | 1,038 of 2,893 (top 36%) |
| 10-year return | +69.6% | 1,477 of 2,202 (top 68%) |
| Volatility, 5 years | 39.9% | 1,457 of 2,893 (top 51%) |
| Sharpe ratio, 5 years | 0.42 | 1,165 of 2,893 (top 41%) |
| Worst decline, past 10 years | −88.5% | 1,897 of 2,187 (top 87%) |

### What has beaten DVN on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer).

- 474 stocks and 345 ETFs worth at least $500 million sit in the green region: each earned more than DVN over the past 5 years with smaller price swings. That is 23% of the 3,633 screened.
- Among those with at least half DVN's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 38% less than DVN's 39.9%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.42 for DVN. PBR-A earned the most, 51.8% a year, while still swinging less than DVN (37.5% against 39.9%).
- Among DVN's popular alternatives, MPLX, VLO and COP are in the region. MPLX earned 23.5% a year against 9.3% a year for DVN, at 18.8% volatility, 53% less than DVN's 39.9%.

### Is there a better investment than DVN?

The table below lists investments that beat DVN over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes.

- Among DVN's popular alternatives, VLO, COP and MPLX earned more than DVN with less volatility over the past 5 years. VLO returned 44.2% a year at 36.9% volatility, against 9.3% a year at 39.9%.
- Looking beyond its popular alternatives, MPC (oil & gas) and XOM (integrated oil & gas) earned more than DVN with less volatility over the past 5 years. MPC returned 51.2% a year at 33.4% volatility, against 9.3% a year at 39.9%.
- Across the whole market, 819 of the 3,633 stocks and funds worth at least $500 million earned more than DVN with less volatility over the past 5 years, among them AAPL, GOOG and MSFT.

The 15 strongest of 819 investments that beat DVN over the past 5 years, out of 3,633 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with DVN | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| DVN: Devon Energy Corporation (this page) |  | +9.3% | 39.9% | 0.42 | −88.5% | +69.6% |  |  |
| [CAH](https://easycompare.io/research/cah): Cardinal Health, Inc. | Health Care Distribution | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.13 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [MSFT](https://easycompare.io/research/msft): Microsoft Corporation | Software | +12.5% | 28.2% | 0.56 | −37.1% | +946% | -0.05 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [MPC](https://easycompare.io/research/mpc): Marathon Petroleum Corporation | Oil & Gas | +51.2% | 33.4% | 1.41 | −79.7% | +1,387% | 0.62 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [MCK](https://easycompare.io/research/mck): McKesson Corporation | Health Care Distribution | +38.7% | 25.0% | 1.44 | −38.1% | +586% | 0.32 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [MRK](https://easycompare.io/research/mrk): Merck & Co., Inc. | Pharmaceuticals | +16.3% | 24.8% | 0.74 | −43.4% | +241% | 0.23 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [AMGN](https://easycompare.io/research/amgn): Amgen Inc. | Biotechnology | +19.6% | 24.9% | 0.85 | −24.9% | +266% | 0.39 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [GILD](https://easycompare.io/research/gild): Gilead Sciences, Inc. | Biotechnology | +22.8% | 24.9% | 0.95 | −30.5% | +200% | 0.24 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | Energy Equity | +22.6% | 25.5% | 0.93 | −66.8% | +189% | 0.87 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [XOM](https://easycompare.io/research/xom): Exxonmobil Holdings Corporation | Integrated Oil & Gas | +27.1% | 26.5% | 1.04 | −61.0% | +214% | 0.76 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [CVX](https://easycompare.io/research/cvx): Chevron Corporation | Integrated Oil & Gas | +19.5% | 25.2% | 0.84 | −55.8% | +238% | 0.77 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [SHEL](https://easycompare.io/research/shel): Shell plc | Integrated Oil & Gas | +21.0% | 24.8% | 0.90 | −67.2% | +233% | 0.67 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| MOG-A: Moog Inc. | Aerospace & Defense | +36.6% | 32.0% | 1.14 | −63.7% | +595% | 0.06 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [PSX](https://easycompare.io/research/psx): Phillips 66 | Oil & Gas | +33.2% | 32.9% | 1.04 | −64.2% | +430% | 0.69 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [CNQ](https://easycompare.io/research/cnq): Canadian Natural Resources Limited | Oil & Gas | +26.5% | 32.5% | 0.89 | −77.5% | +433% | 0.76 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| CACI: CACI International Inc | Business Services | +16.6% | 29.9% | 0.66 | −42.9% | +499% | 0.21 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |

## DVN against its popular alternatives

The investments people most often weigh against DVN, compared period by period and year by year.

### How do DVN's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings.

- Nine of the 22 popular alternatives, led by VLO, MPLX and COP, were both more rewarding and calmer than DVN over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, DVN returned 9.3% a year, less than the S&P 500's 12.7%, with higher volatility (39.9% against 17.1%).

### Has DVN consistently beaten its popular alternatives?

This section compares DVN with the investments people most often weigh against it, checking each one over eight periods from one month to ten years.

- Seven of the 22 popular alternatives, led by VLO, COP and PR, outperformed DVN in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- VLO, COP and PR outperformed DVN in every long-term period and in all but one short-term period, the most consistent record in the group.
- MPLX, VLO and EQT earned more for the risk they took than DVN (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of DVN | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| DVN: Devon Energy Corporation (this page) | +61.8% | +15.0% | +56.0% | +69.6% |  |  | 0.42 |
| [VLO](https://easycompare.io/research/vlo): Valero Energy Corporation | +176% | +259% | +524% | +1,061% | 5/5 short-term, 3/3 long-term | all-weather | 1.18 |
| [COP](https://easycompare.io/research/cop): ConocoPhillips | +72.9% | +28.5% | +131% | +379% | 5/5 short-term, 3/3 long-term | all-weather | 0.68 |
| PR: Permian Resources Corporation | +108% | +86.6% | +317% | +99.2% | 5/5 short-term, 3/3 long-term | all-weather | 0.85 |
| [EOG](https://easycompare.io/research/eog): EOG Resources, Inc. | +53.1% | +31.9% | +115% | +131% | 3/5 short-term, 3/3 long-term | consistent | 0.64 |
| OVV: Ovintiv Inc. | +98.3% | +52.5% | +99.6% | +56.0% | 5/5 short-term, 2/3 long-term | consistent | 0.54 |
| APA: APA Corporation | +130% | +31.9% | +111% | +0.9% | 5/5 short-term, 2/3 long-term | consistent | 0.56 |
| MUR: Murphy Oil Corporation | +62.7% | +2.9% | +74.9% | +109% | 3/5 short-term, 2/3 long-term | consistent | 0.48 |
| [FANG](https://easycompare.io/research/fang): Diamondback Energy, Inc. | +46.8% | +35.7% | +125% | +160% | 1/5 short-term, 3/3 long-term |  | 0.63 |
| [MPLX](https://easycompare.io/research/mplx): MPLX Lp | +27.2% | +105% | +187% | +350% | 0/5 short-term, 3/3 long-term |  | 1.22 |
| [OKE](https://easycompare.io/research/oke): ONEOK, Inc. | +42.8% | +59.9% | +86.8% | +233% | 0/5 short-term, 3/3 long-term |  | 0.59 |
| AR: Antero Resources Corporation | +21.9% | +38.8% | +87.2% | +42.8% | 2/5 short-term, 2/3 long-term |  | 0.50 |
| RRC: Range Resources Corporation | +18.7% | +30.6% | +86.3% | +20.8% | 2/5 short-term, 2/3 long-term |  | 0.51 |
| EQT: EQT Corporation | −1.8% | +35.0% | +175% | +69.1% | 1/5 short-term, 2/3 long-term |  | 0.70 |
| SM: SM Energy Company | +88.7% | −1.4% | +39.5% | +123% | 5/5 short-term, 1/3 long-term |  | 0.39 |
| CHRD: Chord Energy Corporation | +77.0% | +4.9% | +117% | — | 5/5 short-term, 1/3 long-term |  | 0.59 |
| [OXY](https://easycompare.io/research/oxy): Occidental Petroleum Corporation | +56.4% | +2.0% | +103% | +11.6% | 3/5 short-term, 1/3 long-term |  | 0.56 |
| CRC: California Resources Corp | +18.9% | +9.2% | +38.7% | +397% | 0/5 short-term, 1/3 long-term |  | 0.36 |
| MTDR: Matador Resources Company | +36.6% | −5.3% | +39.7% | +168% | 0/5 short-term, 1/3 long-term |  | 0.38 |
| [SLB](https://easycompare.io/research/slb): Slb N.V. | +53.2% | −7.2% | +60.7% | −21.3% | 0/5 short-term, 1/3 long-term |  | 0.44 |
| MGY: Magnolia Oil & Gas Corporation | +14.0% | +18.4% | +35.9% | — | 0/5 short-term, 1/3 long-term |  | 0.35 |
| NOG: Northern Oil and Gas, Inc. | +39.8% | −16.6% | +40.8% | +41.7% | 3/5 short-term, 0/3 long-term |  | 0.38 |
| HAL: Halliburton Company | +51.5% | −14.7% | +39.8% | −17.1% | 0/5 short-term, 0/3 long-term |  | 0.37 |

### How did DVN do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where DVN ranked among its popular alternatives each year.

- DVN finished ahead of the S&P 500 in nine of its 29 full calendar years, and behind it in each of the last three.
- Among its popular alternatives, MPLX came out ahead of DVN most often, in nine of the 13 years both traded.
- Ranked against its popular alternatives each year, DVN finished in the top quarter in five of 29 years and in the bottom quarter in six. In 2025, it ranked 4 of 23.

| Year | DVN | SPY |
| --- | --- | --- |
| 2025 | +15.0% | +17.7% |
| 2024 | −25.2% | +24.9% |
| 2023 | −21.8% | +26.2% |
| 2022 | +50.9% | −18.2% |
| 2021 | +196% | +28.7% |
| 2020 | −35.2% | +18.3% |
| 2019 | +16.7% | +31.2% |
| 2018 | −45.1% | −4.6% |
| 2017 | −8.8% | +21.7% |
| 2016 | +45.0% | +12.0% |

## Risk and diversification

How DVN has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

### What were DVN's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high.

- In all three of DVN's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: DVN fell 94.9% from May 2008 to March 2020, while the S&P 500 rose 115%.
- The slowest recovery came after DVN fell 52.9% from March to September 2001; it did not regain that peak until June 2004, three years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −94.9% | May 20, 2008 | March 18, 2020 | not yet | +115% | 2008 financial crisis |
| −72.5% | February 6, 1987 | July 28, 1988 | February 7, 1989 | — |  |
| −57.1% | October 13, 1997 | February 17, 1999 | March 31, 2000 | +28.7% |  |
| −52.9% | March 9, 2001 | September 26, 2001 | June 23, 2004 | −17.0% | dot-com bust |
| −49.1% | September 24, 1990 | January 23, 1992 | August 31, 1992 | — |  |

### How did DVN do in stock market crashes?

This section measures how far DVN, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000.

- DVN fell further than the S&P 500 in all ten crashes it has traded through. The clearest case was the 2015 China and oil sell-off, when DVN fell 55.2% and the S&P 500 fell 12.8%.
- Among its popular alternatives, COP held up best, falling less than DVN in all ten crashes they both traded through.

| Crash | Dates | DVN fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −52.9% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −68.6% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −2.3% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −36.6% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −55.2% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −13.4% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −49.4% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −75.9% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −33.6% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −8.3% | −3.4% |

### How closely does DVN move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell.

- Ten of the 19 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than DVN's 0.59, led by VLO, MPLX and COP.
- VLO took just 114% of the S&P 500's losses, against 199% for DVN, while still keeping 142% of its gains.
- Over the past 10 years, DVN captured 118% of the S&P 500's gains in rising months and 199% of its losses in falling months, with a beta of 1.80. It amplified the market's moves in both directions.

Measured over the past 10 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| DVN: Devon Energy Corporation (this page) | 118% | 199% | 1.80 |
| [VLO](https://easycompare.io/research/vlo): Valero Energy Corporation | 142% | 114% | 1.31 |
| [COP](https://easycompare.io/research/cop): ConocoPhillips | 94.0% | 92.0% | 0.91 |
| PR: Permian Resources Corporation | 139% | 234% | 3.38 |
| [EOG](https://easycompare.io/research/eog): EOG Resources, Inc. | 92.0% | 135% | 1.17 |
| OVV: Ovintiv Inc. | 131% | 228% | 2.14 |
| APA: APA Corporation | 124% | 246% | 2.54 |
| MUR: Murphy Oil Corporation | 138% | 225% | 1.79 |
| [FANG](https://easycompare.io/research/fang): Diamondback Energy, Inc. | 108% | 148% | 1.54 |
| [MPLX](https://easycompare.io/research/mplx): MPLX Lp | 87.0% | 76.0% | 1.16 |
| [OKE](https://easycompare.io/research/oke): ONEOK, Inc. | 103% | 126% | 1.38 |
| AR: Antero Resources Corporation | 80.0% | 142% | 2.44 |
| RRC: Range Resources Corporation | 63.0% | 123% | 1.48 |
| EQT: EQT Corporation | 62.0% | 101% | 0.90 |
| SM: SM Energy Company | 154% | 244% | 3.21 |
| [OXY](https://easycompare.io/research/oxy): Occidental Petroleum Corporation | 80.0% | 155% | 1.24 |
| MTDR: Matador Resources Company | 156% | 239% | 2.70 |
| [SLB](https://easycompare.io/research/slb): Slb N.V. | 104% | 212% | 1.54 |
| NOG: Northern Oil and Gas, Inc. | 123% | 228% | 1.68 |
| HAL: Halliburton Company | 113% | 225% | 1.75 |

### What diversifies DVN?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions).

- Moving a fifth of the money in DVN into DXJ would have cut the portfolio's volatility by 19% over the past 5 years and raised its annual return (+10.4% for DVN alone, +14.8% for the mix).
- FIX made money in eight of the 11 calendar years in which DVN lost money.
- Among large ETFs, LVHI, DXJ and SMH have moved largely independently of DVN over the past 5 years, with correlations of 0.40 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with DVN | 5Y return | Volatility | Sharpe | Rose in DVN's 11 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.40 | +119% | 11.1% | 1.48 | 3 of 11 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.12 | +225% | 19.1% | 1.34 | 6 of 11 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | -0.01 | +323% | 36.9% | 0.97 | 6 of 11 |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | 0.21 | +85.0% | 13.8% | 0.96 | 6 of 11 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.06 | +126% | 18.9% | 0.96 | 7 of 11 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.11 | +136% | 20.8% | 0.93 | 4 of 11 |
| DFIV: Dimensional - International Value ETF | 0.42 | +99.4% | 16.4% | 0.93 | 2 of 11 |
| [VTV](https://easycompare.io/research/vtv): Vanguard Morningstar Value ETF | 0.47 | +76.6% | 13.7% | 0.90 | 6 of 11 |

## Common questions

### What was DVN's worst drawdown?

DVN's deepest decline since it began trading in 1986 was 94.9%, from May 2008 to March 2020. It has not yet climbed back to that peak.

### What were DVN's best and worst years?

Over 29 full calendar years, DVN's best year was 2021, when it returned 196%. Its worst was 2015, with a return of -46.6%.

### Is there a better investment than DVN?

Among DVN's popular alternatives, VLO, COP and MPLX earned more than DVN with less volatility over the past 5 years. VLO returned 44.2% a year at 36.9% volatility, against 9.3% a year at 39.9%. Looking beyond its popular alternatives, MPC (oil & gas) and XOM (integrated oil & gas) earned more than DVN with less volatility over the past 5 years. MPC returned 51.2% a year at 33.4% volatility, against 9.3% a year at 39.9%.

### Is DVN more volatile than the S&P 500?

Yes. DVN's volatility over the past 5 years was 39.9%, 2.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, DVN's return lands within 39.9% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

### What is DVN's Sharpe ratio?

DVN's Sharpe ratio over the past 5 years was 0.42, against 0.79 for the S&P 500, so DVN earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

### How correlated is DVN with the S&P 500?

Over the past 5 years, DVN's monthly returns had a correlation of 0.22 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against DVN instead: the lower it is, the more that option would diversify a DVN holding.

### What are the best alternatives to DVN?

Of the 22 popular alternatives we compared, seven outperformed DVN in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: VLO, COP and PR.

### Did DVN outperform the S&P 500?

DVN finished ahead of the S&P 500 (SPY) in nine of 29 full calendar years. In 2025, it returned +15.0%, against +17.7% for the index.

### How did DVN do in stock market crashes?

DVN fell less than the S&P 500 (SPY) in none of the ten major crashes it has traded through, and further in ten. The clearest case was the 2015 China and oil sell-off, when DVN fell 55.2% and the S&P 500 fell 12.8%.

### What diversifies DVN?

These had a low correlation with DVN over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.40), DXJ (correlation 0.12) and SMH (correlation -0.01); among large stocks, CAH (correlation 0.13), CLS (correlation 0.09) and FIX (correlation 0.11). A correlation near zero means the two have moved largely independently.

## More research

- [Valero Energy (VLO) Performance, Alternatives and Market Rank](https://easycompare.io/research/vlo)
- [ConocoPhillips (COP) Performance, Alternatives and Market Rank](https://easycompare.io/research/cop)
- [EOG Resources (EOG) Performance, Alternatives and Market Rank](https://easycompare.io/research/eog)
- [Diamondback Energy (FANG) Performance, Alternatives and Market Rank](https://easycompare.io/research/fang)
- [MPLX Performance, Alternatives and Market Rank](https://easycompare.io/research/mplx)
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## Explore further

- Full page with charts: https://easycompare.io/research/dvn
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against DVN live: https://betterthanspy.com/?b=DVN&utm_source=easycompare&utm_medium=research